The cryptocurrency market is flourishing in the global financial market with thousands of different cryptocurrencies. Crypto investors are continuously leaning towards the highly volatile venture to gain profit in crypto wallets with extensive research. At any moment, one can experience a massive rise as well as a drop in cryptocurrency prices. Thus, let's explore some of the top 5 fastest-growing cryptocurrencies and 5 that are falling.
Solana is one of the emerging fastest-growing cryptocurrencies for crypto investors to invest in crypto wallets. Solana is known as one of the competitors of Ethereum with the capability of processing over 50,000 transactions per second. Crypto investors are getting attracted to this cryptocurrency with a market cap of more than US$73 billion. It is also known for offering smart contracts to crypto wallets.
Cardano is becoming one of the fastest-growing cryptocurrencies in January 2022 with its Proof-of-Stake system. It is more scalable as well as energy-efficient than the top cryptocurrency, Bitcoin. It is one of the best-performing cryptocurrencies in crypto wallets owing to its layered architecture, ouroboros PoS, more than 20 transactions per second, and a higher degree of decentralization.
Avalanche is attracting the attention of thousands of crypto investors in this highly volatile market. It was launched in 2020 but it is holding the position just outside the top ten cryptocurrencies in the global cryptocurrency market. It is one of the fastest-growing cryptocurrencies for its scalability, high speed, and compatibility with the blockchain network. It is known for processing over 4,500 transactions per second efficiently.
Bitgert is emerging as the fastest-growing cryptocurrency with its powerful DeFi or blockchain-based project than the other blockchain exchanges present in the cryptocurrency market. It has considered offering the first-ever gasless blockchain in the financial sector to solve concerns regarding expensive gas issues.
Shiba Inu is one of the fastest-growing cryptocurrencies with an expectation of high performance in January 2022. It has successfully entered the list of the top ten cryptocurrencies in the volatile cryptocurrency market for a short period of time. The team has started working on providing more value to the token with ShibaSwap and Doggy DAO apart from its image as a meme or dog coin.
The Ethereum price grew considerably back in 2021, with its value revolving around US$4,000. But during the crypto market meltdown, its value dropped to US$2k and dramatically continued to fall with the several downturns that the crypto market faced. Ether is down 69.3% in the second quarter and is on track for its worst quarter on record, dating back to its inception in 2015.
Ether is down 69.3% in the second quarter and is on track for its worst quarter on record, dating back to its inception in 2015. Bitcoin has lost around 58% of its value in the second quarter of 2022, its worst quarterly loss in more than a decade. According to crypto experts, this is the worst quarterly performance for bitcoin since the third quarter of 2011 when it lost 68.1% of its value.
Theta is a blockchain-powered network purpose-built for video streaming. Launched in March 2019, the Theta mainnet operates as a decentralized network in which users share bandwidth and computing resources on a peer-to-peer (P2P) basis.
Hedera is the most used, sustainable, enterprise-grade public network for the decentralized economy that allows individuals and businesses to create powerful decentralized applications (DApps). It is designed to be a fairer, more efficient system that eliminates some of the limitations that older blockchain-based platforms face such as slow performance and instability.
Filecoin is a decentralized storage system that aims to "store humanity's most important information." The project raised US$205 million in an initial coin offering (ICO) in 2017, and initially planned launch date for mid-2019. However, the launch date for the Filecoin mainnet was pushed back until block 148,888, which is expected in mid-October 2020. The project was first described back in 2014 as an incentive layer for the Interplanetary File System (IPFS), a peer-to-peer storage network.
